In 2021 Axis Bank-Max Life deal, IRDAI says Max Life facilitated transactions of transfer of its shares between parties in violation of its rules, which allowed Axis entities to make “undue profits”.
Axis Bank, Max Financial Services and its insurance arm Max Life are exploring an exclusive arrangement for a strategic long-term partnership to unlock value for stakeholders.
Through a series of transactions, KKR will end up with a 51.9% stake in Max Healthcare and Radiant’s Abhay Soi will own a 23.2%.
